博深股份分析师会议-20250926

Report Summary 1. Report Industry Investment Rating No information provided. 2. Report Core View The company's operating income and profit levels in the rail transit equipment business have increased. The company adheres to the "innovation + acquisition" strategy, strengthens technological innovation, and accelerates the pace of acquisition and development [23][25]. 3. Summary by Relevant Catalogs 3.1 Research Basic Situation - Research object: Boshen Co., Ltd. - Industry: General equipment - Reception time: September 26, 2025 - Reception personnel: Board Secretary Jing Chengming, Securities Affairs Representative Zhu Xueyun, Securities Affairs Specialist Liu Shuyuan [17] 3.2 Detailed Research Institutions | Reception Object | Reception Object Type | Institution - Related Personnel | | --- | --- | --- | | Changjiang Securities | Securities company | Qu Qi | | China Merchants Fund | Fund management company | Zhao Zongyuan, Chen Xizhong, Wang Gang, Yang Yiyang | [18] 3.3 Research Institution Proportion No information provided. 3.4 Main Content Data - Reason for revenue growth in the rail transit equipment parts segment: In the context of economic downward pressure, railway investment is an important counter - cyclical adjustment measure. The new demand and maintenance and renewal demand for railway and rail transit equipment such as EMUs have a superimposed impact, which has led to the growth of the company's rail transit equipment business revenue and profit [23][24]. - Future development layout direction: - Innovation: The company will use existing R & D resources to optimize production processes and accelerate product iteration. It plans to build a three - level R & D system to cultivate new growth engines. For example, Changzhou Jinniu's ceramic abrasive products and Wenshang Haiwei's high - speed rail brake discs have achieved good results [24][25]. - Acquisition: It will seek targets with strong synergy around the existing main business's industrial chain, product chain, and ecological chain, and also seek breakthroughs in emerging industries according to national industrial planning [25].